Medtronic's Diabetes Unit MiniMed Files For IPO On Nasdaq

(RTTNews) - Medtronic plc (MDT) announced that its Diabetes division—set to operate under the name MiniMed—has filed a registration statement on Form S-1 with the U.S. Securities and Exchange Commission (SEC) for a proposed initial public offering (IPO) of newly issued common stock.

The planned separation is expected to be executed through a series of capital markets transactions, with the preferred approach being an IPO followed by a subsequent split-off.

MiniMed intends to list its common stock on the Nasdaq Global Select Market under the ticker symbol MMED. The number of shares to be offered and the anticipated price range have not yet been determined. The IPO is expected to launch following the SEC review process, subject to prevailing market conditions and other factors.